Average rents on the new residential segment in Bucharest dropped by 6% in semester I of the year, compared to the same period of 2020, according to an analysis made by the real estate consulting company SVN Romania, according to which the residential market resisted very well to the shock produced by the pandemic, while the rental sector was strongly affected. The present occupation degree of those a;apartments is 90%, over 9,700 units being rented by tenants for medium- long term, that is for at least 6 months. On the overall, over 55,000 lodgings were have been completed since 2018 to the present day, according to INS statistics and SVN Romania estimates. Over 5,500 lodgings have been purchased by investors, representing 10% of total sales. Of them, about 45% were resold , the rest being offered for rental in order to obtain a long term profit. On the average, rents for the new residential segment in Bucharest dropped by 6% in semester 1, 2021 compared to the same period of 2020. For the next 12 months, a linear evolution is estimated taking into account both results recorded by local economy and the immunization degree and the return of employees to office buildings, since the beginning of the academic year. On the average, a new two room apartment located in Bucharest is rented for 250-350 euros for the mass market segment, with 450-600 euros for the middle market segment, a new three room apartment is rented for values between 600 and 900 euros while a villa can be rented for 750 euros on the average.
Romania took the presidency of the Central European Initiative (or CEI) on Wednesday, November 26, according to a press release from the Ministry of Foreign Affairs (MAE). The organization is a regional intergovernmental forum established in 1989, following the fall of the Berlin Wall. It gathers 17 Member States in Central, Eastern, and South-Eastern Europe […]
Trade between Romania and Poland continues to grow, with annual bilateral exchanges in goods now valued at more than EUR 12 billion, according to figures presented by the Polish-Romanian Bilateral Chamber of Commerce and Industry (PRBCC). The data was released during a reception in Bucharest marking Poland’s Independence Day and Romania’s National Day. Polish investments […]
As Romania moves closer to implementing the EU Pay Transparency Directive, local employers are preparing for one of the most consequential shifts in workplace regulation in over a decade. The directive, set for transposition by June 2026, introduces strict new rules on salary disclosure, pay reporting, and equal-pay verification, aiming to close persistent gender gaps […]
A young Romanian has developed a new system that allows people to return entire bags of recyclable packaging at once, replacing the traditional method of inserting bottles one by one into reverse-vending machines. The concept, called IZI, was created by Ștefan Parascanu, who returned to Romania after studying and working in the United Kingdom. The […]
JTI, the global owner of both Winston and Camel, announced on Thursday, November 27, a plan to build a new, state-of-the-art factory in Ștefăneștii de Jos, Ilfov County. Designed to replace the current Bucharest production site, which is operating under space constraints, the facility is scheduled for completion in 2027. Ground works at the new […]
The City Hall of Oradea, in northwest Romania, has begun installing new smart parking meters as part of its ongoing modernization and digitalization of the municipal parking system. The first batch of devices has already been placed in central areas, and the entire system is expected to become operational by the end of the year. […]
